A Possible Outcome of the Multilateral Approach to Free Trade

question 5

Multiple Choice

A possible outcome of the multilateral approach to free trade is that such an approach can

• A)win political support when a unilateral approach cannot.
• B)result in more restricted trade than under a unilateral approach,when international negotiations fail.
• C)result in drastic reductions in tariffs for many countries.
• D)All of the above are correct.

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Definitions:

Real Estate

Property consisting of land and the buildings on it, along with its natural resources.

Insurable Interest

A stake in the value of an entity or event for which an insurance policy is purchased to mitigate the risk of loss.

Risk of Loss

Refers to the legal responsibility for the damage, destruction, or loss of property, determining which party bears the risk.

Unconscionable

A term used to describe actions or terms in a contract that are so unfair or oppressive to one party that they are considered shocking to the moral conscience.